The ABS announces Australia’s inflation is at a 17 year low

According to the most recent consumer price index (CPI) statistics released by the Australian Bureau of Statistics, Australia’s CPI (inflation) is currently running at a lower annualised level than at any time since mid-1999. This low rate will increase the likelihood of a cut in official cash rate at the next Reserve Bank board meeting.

Not all goods and services rise or fall at the same level; over the June 2016 quarter, the ABS advised that the most significant price rises and falls were as follows:

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